Feb 14, 2011
Riyadh, Saudi Arabia – 14th February, 2011–Ma'aden Infrastructure Company (MIC), a subsidiary of the Saudi Arabian Mining Company, Ma'aden today signed a SR 294 million contract with Petrochemical and Mining Company Limited for engineering, procurement and construction services related to the second phase of accommodation infrastructure development at Ras Az Zawr.
Engr. Abdullah Al Abdulgader, Chairman of MIC said "The execution period of this contact will be around 28 months and this phase of infrastructure utilities includes a residential village comprising 2000 housing units, as well as administrative buildings, a mosque, restaurant, gyms, and water treatment unit on an area of about 580,000 square metres". He added that these housing units will accommodate employees of Ma'aden's aluminum joint venture with Alcoa.
Eng. Khalid Al-Mudaifer, President & CEO of Ma’aden highlighted the importance of progress on infrastructure at Ras Az Zawr also commending the efforts of the government, through the Royal Commission of Jubail and Yanbu in backing such vital industrial facilities. He went on to emphasise the importance of MIC’s role in the successful delivery of a number of key elements of infrastructure in support of Ma’aden’s mega projects at Ras Az Zawr.
About Ma’aden
Ma'aden was established as a Saudi Arabian joint stock company in March 1997 to facilitate the development of Saudi Arabia’s non-petroleum mineral resources and to diversify the Kingdom’s economy away from the petroleum and petrochemical sectors. Ma’aden is engaged in the development, advancement and improvement of all aspects of the mineral industry, mineral products and by-products and related industries in Saudi Arabia. In July 2008 Ma’aden offered 50% of the company’s shares for subscription in a successful SR 9.25 billion IPO. Ma’aden has progressed towards realizing its vision of building a world class mineral enterprise and its mission of being a profitable, publicly owned, international mining company, while maintaining the utmost concern for human resources, health and safety, environmental and social issues.
Ma'aden is engaged in the development, advancement and improvement of all aspects of the mineral industry, mineral products and by-products and related industries in Saudi Arabia. The company is committed to the best international and local standards in environmental regulations and values its role in Corporate Social Responsibility.
Ma'aden has progressed towards realizing its vision of building a world class mineral enterprise and its mission of being a profitable, publicly owned, international mining company, while maintaining the utmost concern for human resources, health, safety, environmental and social issues.